It’s been compared to Spotify and Pandora in the music space, and I called it the Netflix of ebooks back in April. Now after a closed beta period, the Spanish company 24symbols has officially launched to the public with ad-supported and premium subscription memberships. At launch, the service has about 1000 titles, and although it’s browser based the company says an iOS app is undergoing approval right now. Update: A commenter points out that currently anyone can sign up for the free ad-supported plan, including U.S. residents; the premium plan appears to be E.U. only.
Here’s a little more information from an article at paidContent:
24symbols’ premium version is ad free and allows for offline reading. The paid service is €9,99€ ($14.45) per month, €19,99€ per quarter or €59,99€ per year. That’s similar to the cost of Spotify, which is available internationally for €9,99 per month, but pricier than Pandora (NYSE: P), which is $36 for a one-year premium subscription.
Publishers receive 70 percent of a book’s revenue, and 24symbols keeps 30 percent. Revenue is based on the number of page views—i.e., the number of times an actual page of a book is read compared to the overall number of pages read across all titles. Publishers can include their books in both the free ad-supported area of the site and in the paid area or can limit them to either one of those. “The number of pages read will be now the success-measuring unit of a certain book, instead of the number of books sold,” 24symbols writes in a PDF on its website.
Have any Teleread visitors tried it out? If so, I’d love to read your reactions in the comments below.